Polish Stocks: CEDC, KGHM, Millennium, Bank Pekao, Polimex Move

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

Poland’s WIG20 Index rallied 23.27, or 1 percent, to 2,286.99 at 1:17 p.m. in Warsaw, rebounding from the steepest drop in a week.

The following are among the most active stocks on the Warsaw Stock Exchange today. Stock symbols follow company names.

Central European Distribution Corp. (CEDC) rose for the first time in three days, increasing 0.3 zloty, or 1.4 percent, to 21.3 zloty. The vodka producer, which owns Zubrowka and Parliament brands, was upgraded to “buy” from “hold” at ING Groep NV.

KGHM Polska Miedz SA (KGH) , the copper producer with the biggest European mine output, gained 2.7 zloty, or 1.7 percent, to 161.1 zloty, snapping a two-day drop. Copper rebounded from a nine-month low as producer Rio Tinto Group left its forecast for demand unchanged and said supply of the metal remains hampered.

Bank Millennium SA (MIL) jumped 0.1 zloty, or 2.2 percent, to 4.63 zloty, extending yesterday’s 7.9 percent gain. Banco Comercial Portugues SA, which is selling its majority stake in the Polish bank, said late yesterday it’s received three written expressions of interest and other verbal contacts. It didn’t identify the potential bidders.

Bank Pekao SA (PEO) jumped 4.9 zloty, or 3.7 percent, to 136.9 zloty, heading for the highest close in more than a week as Societe Generale SA rated Poland’s second-largest bank “buy” in new coverage and set its share-price estimate at 167 zloty.

Polimex-Mostostal SA (PXM) , Poland’s second-largest construction company, gained for a second day, soaring 0.06 zloty, or 4.5 percent, to 1.4 zloty. Polimex, Alstom SA and Shanghai Electric Co. may bid to build a 6 billion-zloty ($1.9 billion) coal-fired power unit in Ostroleka for Energa SA, a Polish power utility, Rp.pl reported.

Separately, Polimex’s 14-day relative strength index, which shows how rapidly prices advanced or dropped during a specified period, was at 20.2 yesterday. A reading of 30 or below signals to some investors that shares are set to rise.

About the Author


Leave a Reply

You can use these XHTML tags: <a href="" title=""> <abbr title=""> <acronym title=""> <blockquote cite=""> <code> <em> <strong>